SEB Asset Management AB Acquires New Stake in Corning Incorporated $GLW

SEB Asset Management AB bought a new position in shares of Corning Incorporated (NYSE:GLW) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 180,354 shares of the electronics maker’s stock, valued at approximately $24,523,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Corning in the 4th quarter worth $921,435,000. Capital Research Global Investors lifted its holdings in shares of Corning by 52.7% during the fourth quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock valued at $1,478,959,000 after purchasing an additional 5,831,873 shares during the last quarter. Polar Capital Holdings Plc lifted its holdings in shares of Corning by 141.2% during the third quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock valued at $329,035,000 after purchasing an additional 2,348,125 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Corning by 102.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,562,644 shares of the electronics maker’s stock valued at $399,505,000 after purchasing an additional 2,304,676 shares during the period. Finally, Evergreen Quality Fund GP Ltd. acquired a new position in shares of Corning in the 4th quarter valued at $185,312,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Corning

In other news, SVP Michaune D. Tillman sold 3,260 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the transaction, the senior vice president directly owned 10,174 shares of the company’s stock, valued at approximately $2,106,221.48. This represents a 24.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Soumya Seetharam sold 20,000 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $206.23, for a total value of $4,124,600.00. Following the sale, the senior vice president owned 25,570 shares of the company’s stock, valued at approximately $5,273,301.10. This represents a 43.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 160,655 shares of company stock worth $30,692,560 over the last 90 days. 0.25% of the stock is currently owned by insiders.

Corning Price Performance

NYSE GLW opened at $154.47 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. The firm has a market capitalization of $132.94 billion, a price-to-earnings ratio of 73.91, a price-to-earnings-growth ratio of 2.03 and a beta of 1.09. The company has a 50 day simple moving average of $192.81 and a 200-day simple moving average of $153.30. Corning Incorporated has a 52-week low of $53.29 and a 52-week high of $271.78.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The firm had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The firm’s revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities research analysts predict that Corning Incorporated will post 3.18 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Monday, August 31st. Corning’s payout ratio is currently 53.59%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Truist Financial lifted their target price on shares of Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a research report on Monday, June 22nd. Barclays upped their price target on shares of Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Mizuho raised their price objective on shares of Corning from $220.00 to $270.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Citigroup lifted their price objective on shares of Corning from $225.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a research note on Friday, May 15th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Corning currently has a consensus rating of “Moderate Buy” and a consensus target price of $194.69.

Corning Company Profile

Corning Incorporated is a global manufacturer specializing in specialty glass, ceramics and related materials and technologies. Headquartered in Corning, New York, the company supplies engineered materials and components used across multiple industries, including consumer electronics, telecommunications, automotive emissions control, pharmaceutical and life sciences, and industrial and scientific applications. Corning emphasizes materials science and precision manufacturing to develop durable, high-performance glass and ceramic products.

Key product lines include specialty display glass used by television and mobile-device manufacturers, cover glass marketed under well-known trade names for smartphones and tablets, and optical fiber and cable and related hardware for telecommunications networks.